Building Details

Tenancy Multi

Listing Agency: Realty ONE Group Impact c***@gmail.com Show Phone

Listed By: Crystal Arguello · License #IA S653305000

Source: Crexi

Added: Apr 11 Changed: Aug 8 Last Checked: Jul 22 at 6:42PM

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Investment Insights

Based on property information with market context.

This for-sale 24-unit portfolio includes three separate eight-unit apartment buildings on one parcel. Most units have been updated, with a new metal roof installed in 2019 and new windows throughout all buildings completed in May 2022. A vacant unit is available to tour upon request, and all units will be available to tour after an offer has been accepted.

The property operates with a mix of utility responsibility. Most tenants pay all utilities, while newer tenants pay only for electricity and the owner pays for water.

Current management is provided by Pilot Creek Properties at 7% for Leon/Bayard. The seller notes that seven units are currently rented by a local business that provides and pays for housing for their employees, with additional rentals anticipated.

Key Highlights

• 24‑unit apartment portfolio: three 8‑unit buildings on one parcel
• Updates include a new metal roof in 2019 and new windows throughout all buildings in May 2022
• Most units have been updated; 7 units are rented by a local business providing employer housing

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Real Estate Agency Building Supply HVAC Service Auto Repair Shop Restaurant Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

24

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

97

Businesses Nearby

Explore this area Business Placement

Demographics for 50144, IA

2,766

Population

1,312

Households

2.1

Avg Household Size

41

Median Age

15%

College-Educated

91%

High-School Grad

143.4 sq mi

ZIP Area

19

Density / Sq Mi

$64,511

Median Household Income

$35,558

Median Earnings

$544

Median Rent

$122,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Portfolio of three eight-unit apartment buildings on one parcel, with updates including a 2019 metal roof and 2022 windows.

Where is this apartment building located?

The property is located at 1006 SW 11th St Leon, IA.

What are key features of this property?

This property features: 24‑unit apartment portfolio: three 8‑unit buildings on one parcel; Updates include a new metal roof in 2019 and new windows throughout all buildings in May 2022; Most units have been updated; 7 units are rented by a local business providing employer housing